MGM Resorts International (MGM) Coverage Initiated at Telsey Advisory Group
Equities research analysts at Telsey Advisory Group assumed coverage on shares of MGM Resorts International (NYSE:MGM) in a research note issued on Wednesday. The firm set a “market perform” rating and a $39.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 8.97% from the stock’s current price.
A number of other research analysts have also weighed in on the company. Barclays increased their price objective on MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Zacks Investment Research lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Bank of America raised their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $37.00 target price (up from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Jefferies Group assumed coverage on MGM Resorts International in a report on Thursday, January 18th. They set a “buy” rating and a $43.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. MGM Resorts International has a consensus rating of “Buy” and an average price target of $37.94.
MGM Resorts International (MGM) opened at $35.79 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $20,825.33, a PE ratio of 10.53, a PEG ratio of 1.75 and a beta of 1.45. MGM Resorts International has a 1-year low of $25.21 and a 1-year high of $38.41.
In other MGM Resorts International news, Director Alexis Herman sold 4,350 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $36.63, for a total transaction of $159,340.50. Following the transaction, the director now owns 3,935 shares in the company, valued at $144,139.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Taylor sold 12,536 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $34.67, for a total value of $434,623.12. The disclosure for this sale can be found here. Insiders have sold 142,646 shares of company stock worth $5,104,710 in the last quarter. 12.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of MGM. Crossmark Global Holdings Inc. purchased a new position in MGM Resorts International during the third quarter worth approximately $355,000. State of Tennessee Treasury Department purchased a new position in MGM Resorts International during the third quarter worth approximately $4,590,000. Prudential Financial Inc. boosted its position in MGM Resorts International by 1,762.5% during the third quarter. Prudential Financial Inc. now owns 667,921 shares of the company’s stock worth $21,768,000 after purchasing an additional 632,060 shares in the last quarter. Keybank National Association OH purchased a new position in MGM Resorts International during the third quarter worth approximately $265,000. Finally, Principal Financial Group Inc. boosted its position in MGM Resorts International by 1,231.4% during the third quarter. Principal Financial Group Inc. now owns 769,072 shares of the company’s stock worth $25,064,000 after purchasing an additional 711,307 shares in the last quarter. Institutional investors own 82.52% of the company’s stock.
MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.